E-tail watch insurance offers retailers commission

Jewellery insurance provider Assetsure has created a partnership program that it hopes will boost revenue streams for its retail partners by offering instant insurance cover for items purchased by online.

The system is said to have a simple set up process to link watch retailers’ websites with the Assetsure online system. Thereafter, retailers will automatically receive commission on every policy purchased through their site, as well as on future renewals.

Online web purchases of watches through Assetsure partners’ site will automatically generate an insurance quote at the point of sale, offering comprehensive and immediate cover. For pricier watches Assetsure also provides a personal customer support team, available seven days a week.

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For those who choose not to complete an insurance policy at the checkout, Assetsure runs a follow up service, which includes emailing a quotation and full documentation for customer to review in their own time.

Assetsure managing director James Farley said: “When purchasing high-value watches, customers are often faced with a dilemma that their existing home contents policy won’t cover the value of the item they have just purchased or they have to arrange to increase their cover at the penalty of increased premiums.

“Assetsure’s watch insurance policy has been designed to provide immediate protection for purchases and offers competitive benefits to customers.”

The policies are underwritten by specialist insurer Lloyds of London. They have no excess and feature worldwide all risks cover, including accidental damage, theft and accidental loss; and safeguards customers’ home insurance no claims bonuses in the event of loss or damage to watches.

Assetsure says its partners will benefit from generous commissions on new policy sales, and will also have full transparency of transactions through real time, online access, providing details of numbers of leads generated, sales conversions and commissioned earned.